The Stockholm-based startup had already signed up 42,000 independent bloggers in Sweden at the time of writing, allowing them to monetize through pre-roll ads inserted into every video they publish on the platform.

Now, the Swedish company has launched a slew of updates to the service, introducing editing and sharing features in their iOS and Android app.

The new social video editing feature allows users to shoot video directly on their phone, add custom color filters and earn money for the content that they share.

Initially developed with video bloggers in mind, the new version of VideofyMe is a simplified way for anyone to earn money for their video content. This move falls hot on the heels of YouTube opening its Partner Program to everyone, which also lets anyone monetize their videos.

VideofyMe works directly with brands and advertisers to automatically encode every uploaded video with ads. Direct in-app integration across blogging platforms and social networks such as WordPress, Tumblr, LiveJournal, Blogger, Facebook and Twitter make for easy sharing, and once the video has been shared its creator earns money for every view.

“VideofyMe is all about empowering social media talents with the tools they need to create and publish videos,” says co-founder Oskar Glauser. “We’ve developed an easy-to-use social video service, but unlike Social Cam or Viddy, VideofyMe is the only tool that gives publishers, no matter their size, the ability to earn money for the content they are making.”

Now with more than 250,000 users around the world, ranging from fashion bloggers and mobile enthusiasts to college students documenting a trip abroad, VideofyMe is gaining ground as a must-have tool for anyone looking to build their online presence and add cash to their wallet at the same time.

Since 2009, VideofyMe has dished out more than $1m to its users. With its international roll-out last year, VideofyMe saw its video screenings rise from four to forty million views per month.